Washington’s proposed 9.9% tax on income over $1 million sparks concerns about wealthy residents leaving the state as lawmakers debate revenue, migration and economic impact.

Add Yahoo as a preferred source to see more of our stories on Google. The Washington State Senate passed the controversial "millionaires tax," sending it to Gov. Bob Ferguson’s desk. The bill would impose a 9.9% tax on income over $1 million to help ...

A controversial proposal known as the "millionaires tax" is nearing the finish line in Olympia after more than 24 hours of heated debate on the House floor.

Both the House and Senate passed the "millionaires tax" bill imposing a 9.9% tax on high earners, stirring debate on future tax reform in Washington.

Howard Schultz said he and his wife will move to Florida as Washington weighs a roughly 10% annual tax on earnings over $1 million.

Debate centers on whether 9.9% levy on income above $1M will prompt departures. Evidence mixed: some departures noted; Massachusetts brought in more revenue. Lawmakers weigh revenue gains against possible business exits. Tax them, and they will flee.